Randgold commits to continued investment at Loulo, in Mali
As it gears up to take over underground mining operations at the Yalea and Gara mines, in Mali, Randgold Resources will continue to invest in the 4.9-million-ounce Loulo complex, which now ranks as one of the largest of its kind in the world.
In a statement issued following a tour of the complex, which started the transition to full owner-miner status in April, CEO Mark Bristow said Loulo had already paid almost $700-million in taxes, royalties and dividends to the State, and had injected an additional $1.9-billion into the economy through payments to local suppliers, contractors and employees.
“Loulo has grown from two openpits into an operation that now includes two underground mines and [which], in the process, has also spawned the neighbouring Gounkoto mine.
“Randgold is continuing to fund the investment of the substantial capital programme at Loulo, not only in the development of Yalea and Gara, but in a range of projects designed to upgrade and enhance the operation and extend the life of the mines,” he said.
These projects included the transition to owner-miner status, as well as the medium-voltage power plant installation, which would increase Loulo’s power generation capacity.
Randgold was, meanwhile, growing the reserve and resource base through ongoing brownfield exploration to replace the depletion by mining.
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